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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China's yuan will climb in the long run: report AFP - 2 hours 6 minutes ago SHANGHAI (AFP) - - A Chinese central bank advisor said the country's currency will likely continue to appreciate in the long run despite last week's sudden fall, state media reported Tuesday. Central bank monetary policy committee member Fan Gang said given the US dollar's increasing strength, short-term volatility and modest depreciation in the yuan is normal, the Shanghai Securities News reported. Fan insisted the government had not manipulated the yuan. He made the remarks after the Chinese currency dipped last week against the dollar just before the United States and China held high-level economic talks in Beijing at the end of the week. The currency is only allowed to move in a tightly managed band against the dollar since a one-off appreciation following a depegging in July 2005. The Chinese unit fell by its maximum daily trading limit of 0.5 percent against the greenback for two consecutive days last week. The sudden drop prompted experts say it could signal a policy shift to prop up the country's ailing export sector during the financial crisis. The yuan's value has been a perennial bone of contention between China and the United States, which has accused Beijing of deliberately keeping its currency low to protect the competitiveness of Chinese export prices. China's commerce minister Chen Deming said last week he expected the yuan would remain stable as long as there were no major disturbances in the international financial system . Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Ford discusses Volvo sale to China Changan -paperReuters - 1 hour 1 minute ago China's yuan will climb in the long run: reportAFP - 2 hours 6 minutes ago Bad economy helping Web scammers recruit `mules'AP - 2 hours 28 minutes ago China's Zhongjin eyes 50% of Australian zinc mineReuters - Tuesday, December 9 Related Articles: Business Japan deeper in recession, third-quarter GDP showsReuters - 26 minutes ago Russia daily c.bank swap limit at 5 bln roublesReuters - 27 minutes ago Gazprom Neft may let foreigners in Arctic oil fieldReuters - 28 minutes ago DRDGOLD buys remaining 35 pct stake in ElsburgReuters - 32 minutes ago S.Korea c.bank board united on Oct 27 rate cutReuters - 33 minutes ago Enlarge Photo China's yuan will climb in the long run: report Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Financial crisis tipped to cut cost of air travel Stocks take flight on prospects for anti-recession moves Oil price falls below $40 Muslim pilgrims stone Satan at the hajj Climate change: Sci-fi solutions no longer in the margins View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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